By Laura Lutz
Des Moines, May 21 - Deutsche Bank AG, London Branch priced a $5 million issue of principal-protected CMS slope steepener notes due May 23, 2012, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is variable and will be payable quarterly.
The notes will bear interest at a fixed rate of 8.2% for the first quarter.
After that, the interest rate will equal 50 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the 10-year CMS rate. This rate will be reset quarterly and will be subject to a minimum interest rate of 0% and a maximum interest rate of 20%.
The notes are callable at par plus accrued interest on any interest payment date beginning August 2007.
If the notes are not called, the payout at maturity will be par plus accrued interest.
Deutsche Bank Securities, Inc. and Deutsche Bank Trust Co. Americas are the agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Principal-protected CMS slope steepener notes
|
| Amount: | $5 million
|
| Maturity: | May 23, 2012
|
| Interest rate: | 8.2% for the first quarter; after that, 50 times the spread of the 30-year Constant Maturity Swap (CMS) rate over the 10-year CMS rate, reset quarterly and subject to a minimum interest rate of 0% and a maximum interest rate of 20%
|
| Price: | Par
|
| Call: | August 2007 onwards
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Agents: | Deutsche Bank Securities, Inc.; Deutsche Bank Trust Co. Americas
|
| Fees: | 0%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
